A Deerfield, Ill.-based team of advisors managing $800 million in client assets has moved their book to LPL Financial. Equitrust Financial Group joins from Securities America, which recently became part of the Advisor Group network of broker/dealers via its merger with Ladenburg Thalmann.
Charles Noparstak, one of Equitrust’s founders, said he felt it would be in clients’ best interest to affiliate with a publicly traded b/d with self-clearing capabilities.
“In addition, as we began our research, LPL stood out for its excellence in technology and business operations,” he said in a statement. “Our staff was blown away by how easy it could be to run our business; we have already seen an uptick in office efficiency simply because of something as simple as there being fewer forms to have to fill out.”
The firm was founded in 1989 by Noparstak and Steven Hyman, who built the business via financial education seminars. The team now exclusively relies on referrals.
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